Netflix, Inc. (NASDAQ:NFLX) Announces Earnings Results
Netflix, Inc. (NASDAQ:NFLX) posted its quarterly earnings data on Monday. The Internet television network reported $0.15 earnings per share for the quarter, missing the consensus estimate of $0.16 by $0.01, Bloomberg Earnings reports. Netflix had a return on equity of 25.29% and a net margin of 6.76%. The firm had revenue of $2.79 billion for the quarter, compared to analysts’ expectations of $2.76 billion. During the same quarter in the previous year, the firm posted $0.09 earnings per share. The company’s revenue for the quarter was up 32.3% on a year-over-year basis. Netflix updated its Q3 guidance to $0.32 EPS.
Shares of Netflix (NASDAQ NFLX) traded up 0.36% during mid-day trading on Monday, reaching $161.70. 17,496,685 shares of the company’s stock traded hands. The company has a market cap of $69.69 billion, a P/E ratio of 209.18 and a beta of 0.99. Netflix has a 12-month low of $84.50 and a 12-month high of $166.87. The firm has a 50-day moving average of $157.80 and a 200 day moving average of $144.87.
In other news, CEO Reed Hastings sold 91,994 shares of the stock in a transaction dated Thursday, April 20th. The shares were sold at an average price of $140.97, for a total value of $12,968,394.18. Following the sale, the chief executive officer now directly owns 91,994 shares of the company’s stock, valued at $12,968,394.18. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Gregory K. Peters sold 6,909 shares of the stock in a transaction dated Tuesday, April 25th. The stock was sold at an average price of $150.02, for a total transaction of $1,036,488.18. Following the completion of the sale, the insider now directly owns 19,999 shares in the company, valued at $3,000,249.98. The disclosure for this sale can be found here. Insiders have sold 421,458 shares of company stock valued at $64,206,893 in the last quarter. Company insiders own 4.90% of the company’s stock.
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Several equities analysts have weighed in on the stock. UBS AG reiterated a “buy” rating and set a $175.00 price objective on shares of Netflix in a research report on Wednesday, April 19th. Instinet reiterated a “buy” rating and set a $175.00 price objective (up from $165.00) on shares of Netflix in a research report on Monday. Sanford C. Bernstein set a $178.00 price objective on shares of Netflix and gave the stock a “buy” rating in a research report on Monday. Nomura set a $175.00 price objective on shares of Netflix and gave the stock a “buy” rating in a research report on Monday. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $155.00 price objective on shares of Netflix in a research report on Monday. Two investment analysts have rated the stock with a sell rating, sixteen have issued a hold rating and twenty-nine have assigned a buy rating to the company’s stock. Netflix has an average rating of “Buy” and a consensus target price of $152.72.
Netflix Company Profile
Netflix, Inc is a provider an Internet television network. The Company operates through three segments: Domestic streaming, International streaming and Domestic DVD. The Domestic streaming segment includes services that streams content to its members in the United States. The International streaming segment includes services that streams content to its members outside the United States.
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